France's Total SA Is Target Of Russian Suit

Law360, New York (April 10, 2008, 12:00 AM EDT) -- French prosecutors are reportedly investigating a breach-of-contract lawsuit filed by two Russian regional governments against French oil giant Total SA.

The Russian local governments of Volgograd and Saratov have sued Total for $170 billion, saying that the company broke a 1993 agreement with Elf Aquitaine, later acquired by Total, on exploiting oil fields, the French newspaper Le Figaro reported Thursday.

However, Total lawyer Emmanuel Rosenfeld told Agence France Presse on Thursday that the Russians had filed their lawsuit at the behest of businessman Andre Guelfi, who...